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Company: Credit Suisse
Current Parent Company:
UBS
Parent at the Time of the Penalty Announcement:
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Recap of Ownership Changes:
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Penalty: $50,300,000
Year: 2016
Date: April 12, 2016
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal:
Toxic Securities
Violation Description: The National Credit Union Administration announced it would receive $50.3 million in damages and interest from Credit Suisse for claims arising from losses to Members United and Southwest corporate credit unions related to purchases of residential mortgage-backed securities.
Level of Government: federal
Action Type: agency action
Agency: National Credit Union Administration
Civil or Criminal Case: civil
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data:
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Archived Source:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
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